"The widespread popularity of English as a second language in Asia has brought about the most fertile period of word generation since William Shakespeare's time with new terms coined on average every 98 minutes," reports the Telegraph.

Global Language Monitor acknowledges new words once they have been used 25,000 times by media outlets, social networking websites and in other public sources.

Other words that might make the cut include "defollow", "defriend", "greenwashing" (what companies do to appear environmentally friendly) and "chiconomics" (referring to credit crunch inspired fashions!).

Paul Payack, chief analyst at the Global Language Monitor, claims that the "average persons vocabulary is fewer than 14,000 words out of these million that are available. A person who is linguistically gifted would only use 70,000 words.